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ARTICLE · 28 OCTOBER 2014

IRS Announces Employee Benefit Plan Limits For 2015

The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for 2014 and 2015.

United StatesEmployment and HR

Recently the Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2015.  The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for 2014 and 2015.*

RETIREMENT PLAN LIMITS 

2015

2014

Annual compensation limit

 $265,000

$260,000 

401(k), 403(b) and 457(b) before-tax contributions

 $18,000

$17,500 

Catch-up contributions (if age 50 or older)

 $6,000

$5,500 

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